STAG Capital Partners' Joint Venture Purchases Six Assets Totaling 2,166,569 Square Feet

BOSTON, Nov. 3, 2010 /PRNewswire/ -- STAG Capital Partners and GI Partners, on behalf of their recently formed $200 million joint venture, announced today that they have purchased, in five separate transactions, an additional six assets totaling 2,166,569 square feet.  Since it was formed in July 2010, the joint venture has acquired a total of nine assets, in eight separate transactions, totaling 3.1 million square feet.

On September 30, 2010 the venture acquired a 465,323 square foot warehousing and distribution facility located at 3700 Display Drive in Charlotte, NC that is fully leased to International Paper.  The property is International Paper's main facility in Charlotte distributing retail packaging and displays.

On October 12, 2010 the venture acquired a 418,406 square foot warehousing and distribution facility located at 538 Myatt Drive in Madison, TN that is fully leased to E. I. DuPont De Nemours and Company.  The facility serves as a value-add manufacturing and processing facility for DuPont's non-woven fabrics business.

On October 15, 2010 the venture acquired a 210,000 square foot warehousing and distribution facility located at 2640 Northridge Drive in Walker, MI that is fully leased to United Stationers Supply Company.  United Stationers distributes office supplies and furniture from the property to retailers.

On October 26, 2010 the venture acquired two assets, a 386,724 square foot warehousing and distribution facility located in Rogers, MN that is fully leased to Archway Marketing; and a 342,700 square foot warehousing and distribution facility located in Vonore, TN that is fully leased to ConAgra Foods, Inc.  The Archway facility houses the company executives and serves as their primary U.S. distribution center.  The ConAgra facility serves as a regional computerized distribution center for parts of the Southeast and Midwest.

Lastly, on October 28, 2010 the venture acquired a 343,416 square foot warehousing and distribution facility located in Streetsboro, OH that is fully leased to Chrysler Group, LLC.  From the facility, Chrysler distributes parts and accessories to 392 car dealers in nine states.

STAG Capital Partners sponsors joint venture and investment funds that actively acquire single-tenant, net leased properties via third party transactions and corporate sale-leasebacks to add to its existing portfolio of real estate assets.  Tenants in these properties have included both investment and sub-investment grade corporations.  Property types include warehouse, manufacturing, and flex/office properties.  STAG Capital Partners' sponsored funds have acquired more than 200 properties at a cost of over $1.3 billion since 2004.

Contact: Kelly Chase or Scott Henderson, STAG Capital Partners, 617-574-4777

SOURCE STAG Capital Partners